I will make it simple for the loser bagholder. This is moving up only because there are some long losers doubling down and averaging their cost. There are no new buyers here, neither speculators. This company has been left for dead.
Once the long losers bagholders realize they have been buying more of a #$%$ stock this will come down crashing and it will all end up in tears.
This engineered rally on low volume is one of the longs here buying a few scant shares in the absence of sellers. This loser is trying to sleep better at night seeing his 401k move north.
Yet, nothing will be able to prevent the coming crash to 31 cents or less. This will end up badly. In tears. This company is bankrupt and deserves a negative premium for bad management.
No. What I said is that there is no reason to buy. And if everyone agrees with me which is very likely, there is no demand for the stock.
The only thing that can change this is marvelous news from nextradio and the chances for that are next to zero. CEO said monetization well into 2017.
In general, this is a poor company with unfriendly management and a CEO that is sleazy.
Zazove Associates, LLC
filed a sc 13G on 5/9/2016 owing more than 2 million shares. That is more than 5% of the company!
C'mn. The only loser here that owns that much is longtimefollower. Hey, you come in the second loser place now. lol
What are you buying here?
A+ team mgt? Superb CEO? CFO that excels? Outstanding balance sheet?
emms does not grow and nxtradio produces no earnings. No reason to buy now, no reason to buy next year. Yes, I sold and I will short.
In their filing they state that material earnings differences from last year are due to having increased the size of the facilities by 78% or 1.3 GW. As well as due to having to account for additional expenses for advisors because of Sunedison. In spite of the weaknesses in internal controls it appears that the large growth in the company in one year is not such bad news...
I have been in several reverse split situations.
Some work, some don't. The ones that work are those associated with improving prospects. Shares get bought and it's all up and up. Then, the cases that do not work seem to be just a scam so that shortsellers can continue to short from a higher price.
The verdict is out here. Smulyan believes things will and are getting better according to sales figures from April and May, all markets including NY except for LA. He was also fairly honest in his assessment of revenue for nextradio not being meaningful until 2017 so there is reason to believe he is being honest and not exaggerating. In fact, concrete figures of improvements were mentioned at the CC.
Note that no funds, institutional buyers, or even hedge funds will touch the stock at this price and there may be no market for it as it looks for the dwindling volume.
So perhaps it is a good thing.
It was Tim Seymour on Friday. Said company will ve FCF positive for the first time ever.